Following the approval process, the Fund receives a 1% fee at the time of commitment and another 1% at the close of the deal. SBTIF staff are available for technical and advisory assistance during the collaboration and investment period. They attend the portfolio company's board of director meetings, but do not accept a voting board seat. Many of the Fund's successful companies have issued initial public offerings or have been acquired. When this occurs, the Fund has an opportunity to recoup its investment so as to support other businesses with new innovative technologies.

To be considered, companies must have well-protected intellectual property. Interested in all technologies, the Fund has invested in software, biotechnology, electronics, optics, telecommunications, and materials science, concentrating its efforts in areas of the State typically underserved by venture capitalists. To start the process you may submit a well drafted business plan or executive summary. The business plan should describe the history of the company, complete current contact information, the company founders, current key employees, a financial plan for the next five years and of course a full definition of your new and innovative technology products. We will also need to know where you intend to invest any new capital raised. As part of your business plan, we need to have you differentiate your products and services from that of your competitors.

For more information contact NYSTAR by e-mail or at 518.292.5700 and request to speak with SBTIF staff.